The Association of Telecommunications Companies of Nigeria has called on industry regulators to implement clear and practical solutions to resolve the long-standing N250bn debt owed by banks to telecom operators for Unstructured Supplementary Service Data offerings.
Speaking with The PUNCH, ATCON President Tony Emoekpere stressed the need for clear solutions, warning that the debt crisis threatens the progress of financial inclusion in the country.
In Nigeria, USSD is vital for financial inclusion, particularly in rural areas where smartphone penetration and internet access are limited.
It is heavily relied upon by banks, especially for mobile banking services, and is also used for services like airtime top-ups, bill payments, and other telecom services.
“My advice is that it is crucial for this debt to be addressed directly and for a solution to be found. If telcos are not encouraged to support the financial industry and such debts continue to accumulate, it will be detrimental to financial inclusion targets,” he said.
